Beijing Media Corp
In July of this year, reports about the Beijing Youth Daily listing on the Hong Kong stock exchange began to appear (on Danwei here), saying that the Youth Daily hoped to raised between 500 million and one billion Hong Kong dollars.
Last Friday, Hong Kong newspaper The Standard carried a report on proposed floatation and put the figure at “around US$100 million (HK$780 million)” which means that the Youth Daily moneymen are standing by their previous plans. From the Standard:
It will be the first major state-run Chinese newspaper group to sell shares overseas.
The shares will begin trading on December 22, the sources said.
Company executives will meet investors from December 10 in a roadshow slated to kick off in Hong Kong before visiting Singapore and the United States. The company will be listed as Beijing Media Corp (BMC), and include assets from its advertising and print production arms.
Meantime, the People’s Daily is cheerleading the entry of foreign money into Chinese media with a story entitled:
International media strive for “first bucket of gold” in broadcasting, film and TV
The State Administration of Radio, Film and Television has recently released two regulations, which loosen restrictions on foreign capitals’ entry into the broadcasting, film and TV industry. The management of the international media thinks the foreign capitals will quicken their steps in entering China’s broadcasting, film and TV industry.
The article talks about three high-profile deals, summarized below:
Zhongying-Warner-Hengdian Film and Television Co.
Joint venture of the Warner Group, Zhongying Group, and the Zhejiang Hengdian Film and TV Co. Ltd. Now going through formalities needed for establishment of a new company. Its business covers investment, production, and promotion of Chinese-language films. Next year it will invest in a digital movie “ten great warriors”.
Viacom and SMG
Viacom’s Nickelodeon has got approval from the State Administration of Radio, Film and Television to establish a JV with SMG [which is affiliated with SMEG]. The company is settling registration formality and will begin operation in first quarter of 2005. The new JV will launch entertainment channel, games channel, and cartoon channel “Nickelodeon time”, which will be played in more than 30 channels nationwide.
Sony and Zhongying
Huasuo Film and Television Digital Production Company is a joint venture between Sony Pictures and Zhongying Group which began operarting on November 25. Its main business is production of entertainment programs in Chinese language, including comics, TV serials and movies.
The Hong Kong Standard’s story about the Youth Daily is here.
The People’s Daily bucket of gold is here.
And now for the babes
Ever since the first massive influx of foreign web media that came with dot com boom, the content of all types of Chinese media from TV to print has been diversifying. State controls on media have been slowly relaxing while market pressures force media companies to think about what their viewers and readers actually want.
In preparation for the latest wave of foreign capital and influence, China’s state-owned media copmpanies are getting ready for a more competitive environment. The most noticable effect of this has been the growing tendency of such organizations to post and print lots of pictures of attractive women:
– The photoshopped image above is from North East News’ gallery of “sports” babes.
– Xinhua has photos of the Miss World pageant here and here, Xinhua favorite Naomi Campbell is here, there’s a gallery of “mysterious Indian beauties here, Maggie Cheung “poses wild look” here, and there is a gallery of pictures of “HK super model Rosemary” here.